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Resting on the channel base:.......>

DOLLAR-YEN TECHS
DOLLAR-YEN TECHS: Resting on the channel base:
*RES 3: 107.09 High Aug 06
*RES 2: 106.23/47 200-hma/High Aug 7
*RES 1: 105.73/98 100-hma / hourly resistance Aug 9
*PRICE: 105.28 @ 08:44 GMT Aug 13
*SUP 1: 105.05 Low Aug 12
*SUP 2: 105.00 Psychological support
*SUP 3: 104.87 YTD low
*SUP 4: 104.56 Low Mar 26 2018
USDJPY breached the key 105.50 level last week with the downtrend extending to
105.05 yesterday. Technical conditions remain bearish with the focus on the
psychological 105.00 level, ahead of the flash crash ytd low at 104.87. The
latter represents a major support. Bulls need to clear last Tuesday's high at
107.09 to signal scope for a corrective recovery. Note too that USDJPY is
resting on the bottom of its bear channel drawn off the Apr 24 high, today at
105.26.

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